MELBOURNE, July 9 (Reuters) - London copper snapped back sharply on Monday from near one-year lows hit in the session, as a weak dollar forced short holders to cover positions even amid simmering trade war tension.
* COPPER: London Metal Exchange copper rallied by 1.6 percent to $6,383.50 by 0108 GMT after prices slumped to $6,221.50 a tonne on Friday, which was the weakest since late July 2017. Shanghai Futures Exchange copper also rebounded, by 1.1 percent to 49,810 yuan ($7,502) a tonne.
* BACKWARDATION: There is still huge tightness between the July-August copper contract, suggesting shorts may have to deliver into warehouses in the next week if they can. July is trading at an $11 premium against August. MCUN18-Q18
* Other LME metals were all around 1 percent higher from Friday.
* U.S. ECONOMY: The U.S. economy created more jobs than expected in June, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases this year.
* TRADE WARS: The global economy is starting to show signs of strain from the “America First” push of U.S President Donald Trump who will hear renewed pleas to step back from a broader trade war when he visits Europe in the coming week.
* TRADE WARS: Wall Street has taken the China-U.S. tariffs enacted on Friday in its stride so far, but investors are on alert for a ramp-up in the trade conflict.
* MINE WAGE TALKS: Labor negotiations at BHP Billiton Plc Escondida copper mine in Chile, the world’s largest, are entering into the final three weeks before a 30-month contract expires at the end of July.
* ALUMINA: Chinese alumina producer Luoyang Heungkong Wanji Aluminium Co Ltd said on Friday it has cut output of alumina by 680,000 tonnes on an annual basis, a day after state-run Chalco announced its own alumina cuts citing low prices.
* CHINA ECONOMY: China’s broad economic growth was expected to ease to around 6.6 percent in the second half of this year, the State Information Center said on Saturday.
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* Asian share markets looked set to bounce on Monday following favourable U.S. jobs data, while sterling slipped after a key member of the British government resigned over Brexit and put the future of Prime Minister Theresa May in doubt.
0600 Germany Trade balance May
0830 Euro zone Sentix index Jul
1400 U.S. Employment trends Jun
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.6396 Chinese yuan renminbi)
Reporting by Melanie Burton; editing by Richard Pullin